Gold in its before-last phase of a 3 year accumulation.
With the closure of the current sideways BU/LPS move to the upside, it would initiate the phase E of the accumulation with a break and mark up towards an ATH.
From that point on we would see how price maintains itself above the 3 year resistances and if in turn, rejection is too strong and we enter a long term distribution scenario.
I believe it to be highly unlikely however as the fundamentals driving gold bulls at the moment are very strong.
From that point on we would see how price maintains itself above the 3 year resistances and if in turn, rejection is too strong and we enter a long term distribution scenario.
I believe it to be highly unlikely however as the fundamentals driving gold bulls at the moment are very strong.